Merrill Lynch Adds UBS Team With $1.2 Billion in New Mexico

M&A · Partnership
โดย WealthManagement·US·Read original
Summary · why it matters

Bank of America's Merrill Lynch wealth management team has recruited advisors John Vazquez and Manuel Monasterio in Santa Fe, New Mexico, along with $1.2 billion in client assets. The duo, plus four support staff, left UBS, where Vazquez had worked since 1999 and Monasterio since 2008, according to BrokerCheck. The team was producing about $4.7 million in revenue and will be based in Merrill's Desert Mountain Market under Market Executive Elaine Darnell. The move adds to the advisors overseeing a combined $1.8 billion that Merrill said earlier this week had joined from Morgan Stanley, Truist and Wells Fargo. Merrill has reportedly seen the largest net advisor losses among firms this year through Aug. 13 at 552, according to Wolfe Research, while UBS ranks sixth with net advisor losses of 190 after changing its compensation structure in 2025.

Impact on stocks 5

Financials± Mixed · 5 stocks
Bank of America Corp
BAC
▲ PositiveDemandrelevance

Merrill Lynch recruited a UBS team with $1.2B in client assets, adding to $1.8B that joined from Morgan Stanley, Truist and Wells Fargo.

UBS Group AG
UBSG
▼ NegativeCompetitionrelevance

UBS lost advisors Vazquez and Monasterio and $1.2B in client assets to Merrill Lynch, and ranks sixth in net advisor losses.

Morgan Stanley
MS
▼ NegativeCompetitionrelevance

Merrill said advisors overseeing $1.8B had joined from Morgan Stanley, Truist and Wells Fargo, implying asset loss to a rival.

Truist Financial Corp
TFC
▼ NegativeCompetitionrelevance

Merrill said advisors overseeing $1.8B had joined from Morgan Stanley, Truist and Wells Fargo, implying asset loss to a rival.

Wells Fargo & Company
WFC
▼ NegativeCompetitionrelevance

Merrill said advisors overseeing $1.8B had joined from Morgan Stanley, Truist and Wells Fargo, implying asset loss to a rival.

© 2026 MarketDXNews